GAMURS founder and chief executive Riad Chikhani, who was a teenager when he started the business, said the funding had let the company open a research and development division in Adelaide, where it was exploring the use of machine learning in eSports and gaming, with the intention of developing new revenue streams not attached to advertising.

"eSports is rife for innovation and reliable services, which we want to be at the forefront of, just as we are doing that for media," he said.

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"We have really supportive investors that want to continue funding this business as we continue to show tangible returns on our investments in this growing market."

The company now has 4 million monthly active users (MAUs) on its website and recently opened an office in Mumbai, having acquired an Indian gaming publication, but it generates more traction via social media.

Surge in popularity

One of its Facebook pages dedicated to popular new game Fortnite reaches 30 million gamers a month.

"Regarding growth, we saw a 600 per cent increase from quarter one, 2018 [January to March], compared to the same quarter in the previous year," Mr Chikhani said.

"This is although advertising proves to be a challenging industry to play in when you're not a Facebook or a Google. This is why we're investing into product-based revenue streams in order to minimise the barriers faced by ad-based models."

Last year GAMURS announced that it had partnered with peer-to-peer social betting app Puntaa to form a licensed global eSports wagering brand called Skrilla, which is built on the Ethereum blockchain, but since then it has divested from this business to focus on its core operations.

Investors it its latest round have backed the business because of its vision to expand into artificial intelligence tools for the eSports sector.

The company would not reveal its valuation, but Mr Chikhani said the latest raise had resulted in a 24 per cent jump in its share price.

"The eSports segment is one of the fastest growing industries globally, and they are a world class emerging player in that. We decided to invest based on the vision that Riad shared around sophisticated AI tools, products and services that will drive increased engagement and value for the global eSports market," Alium Capital's Rajeev Gupta said.